GERMAN Health Minister Karl Lauterbach will today unveil its adult-use cannabis plans, following months of delay.
Initially due for release at the end of last year the plan has been held-up following intense discussions with the European Commission. Business Of Cannabis will be providing updates on this breaking story, today. (For background see here).
London-listed British American Tobacco (BAT) has upped its presence in the cannabis sector taking a $10m in established US CBD firm Charlotte’s Web.
The deal sees BAT take a 20% stake in Joint Venture partnership with Charlotte’s Web and AJNA BioSciences PBC, a botanical drug development company focused on neurological disorders.
Six Cannabis Investments
AJNA was co-founded by its president, Joel Stanley, the former CEO and Chairman of the board of Charlotte’s Web. The JV was established to pursue FDA-approval for a novel botanical hemp-based drug to target a neurological condition, reports Bloomberg.
AJNA’s Chief Medical Advisor Neurologist Orrin Devinsky, MD, PhD will lead the JV’s clinical and regulatory strategy. He was a principal investigator for the development of the UK developed cannabis-based drug, Epidiolex.
He said: ”As one of the first clinicians to research novel cannabinoids, I am very excited to work on this project. I believe the properties of cannabis and hemp are well suited for the FDA’s new Botanical Drug Development pathway.”
James Barrett, Commercial Director of Wellbeing and Stimulation at BAT, said: “Our investment in the Joint Venture reinforces our commitment to Charlotte’s Web and represents another step for BAT in our exploration beyond tobacco and nicotine. We continue to transform our business, through strategic investments in innovative consumer, new sciences and technology businesses, as part of our purpose to build A Better Tomorrow.”
BAT has now made half a dozen investments in the cannabis space. Its most recent deal saw it take a stake in German cannabis company Sanity Group.
Canadian cannabis outfit Tilray Brands has expanded its European presence in a deal with German company Cansativa Group which will deliver a new export and distribution partnership in the Czech Republic.
It is designed to support the delivery of Tilray Medical’s distribution of EU-GMP certified medical cannabis products across pharmacies and hospitals.
Brains Win American Deal
Denise Faltischek, Chief Strategy Officer and Head of International, Tilray Brands, Inc. said, “We are extremely proud to broaden our distribution across the Czech Republic and offer our EU-GMP certified medicinal cannabis products to help support medical cannabis patients in need.
“Our Tilray Medical team remains dedicated to patient advocacy across our international markets by providing quality medicinal cannabis for commercial, compassionate access, and research purposes.”
UK-based, cannabinoid API-focused Brains Bioceutical Corporation, has inked a deal to supply one of South America’s largest drug manufacturers with natural EU-GMP CBD API for its ongoing clinical trials and products approved by Brazil’s Health Regulatory Agency.
Partner company Prati-Donaduzzi, has one of the largest portfolios of generic drugs in Brazil supplying South American and global markets.
Ricky Brar, CEO & chairperson at Brains Bio, said: “We are thrilled to expand our long-standing relationship with an industry leader in Prati-Donaduzzi.
“We continue to supply our high-quality natural CBD API for Prati-Donaduzzi’s clinical trials and cannabinoid products, which we expect will ultimately culminate in market-authorized prescription medicines.
“This supply agreement is a landmark moment in the history of the pharmaceutical cannabinoids industry.”
Guernsey Base For Cannabis Firm
US smokable hemp outfit Hempacco has opened a European office as part of its international expansion strategy. Hempacco Europe is based in Warsaw with Jakub Duda appointed as its head of European operations.
Sandro Piancone, CEO of Hempacco, said: “Europe will be a huge market for our portfolio of hemp smokable products and papers. Once we ship into Poland, we can ship into the European Union.”
After raising £500,000 in a seed funding round with Angel Investment Network (AIN) in June last year Master Plant Holdings is aiming to redevelop a pharmaceutical distribution facility in Guernsey to develop high quality medical cannabis for European distribution.
The company says it is in the process of gaining its cannabis licence for research, development and manufacturing of 300-plus strains and formulations on the Island of Guernsey.
Master Plant CEO, Oliver Osgood said: “We are delighted that angel investors have backed Master Plant’s vision as we continue to break new ground in the cannabis industry. As we look forward to the future, we are confident our cannabis licence and market proposition is unique. Combined with our proven track record and global cannabis credentials we are ambitious to become a key player in European cannabis.”
Master Plant will aim to launch their next round of Series A funding in 2023. The £2m Series A funding will go towards retrofitting the Guernsey facility and developing commercial operations, report the Angel Investment Network.
More Novel Food Delays
It will be summer 2024 at the earliest before the UK Food Standards Agency fully authorises any CBD products.
However, even this belated deadline could slip if the Home Office complicates matters or if the FSA is flooded with other regulated product applications, reports PhramaIntelligence.
The UK Novel Food Validated list now includes over 12,000 products, with several thousand products.
Legendary pugilist and cannabis advocate Mike Tyson has opened a new coffee shop in Amsterdam, Netherlands. The opening of TYSON 2.0 marks the company’s initial venture into the European market.
“It is a dream come true to open our first coffeeshop in Amsterdam,” said Mike Tyson, Co-Founder and Chief Brand Officer of TYSON 2.0.
Adam Wilks, the CEO of TYSON 2.0 said: ”We look forward to introducing the TYSON 2.0 brand and lifestyle to Amsterdam and servicing our European fans with the industry-leading products we’re known for,” he said in a press statement.
One of the products from Tyson 2.0 that gained recent viral attention is called Mike Bites. These are cannabis edible gummies shaped like an ear, in reference to the infamous incident where Tyson bit the right ear of former professional boxer Evander Holyfield.
Positioned in Amsterdam’s city centre, Tyson’s coffeeshop spans over 1,200 sq. ft (about 111 m2). The shop incorporates the brand’s iconic colour scheme of red and black, along with exposed brick walls and light oak furnishings. The lounge area allows guests to interact with the TYSON 2.0 brand, its product offerings, and a glass bar.